Agency
A Missouri listing agent receives two offers simultaneously. Their duty is to:
APresent only the highest offer
BPresent all offers to the seller promptly✓ Correct
CWait 24 hours before presenting
DOnly present offers above the listing price
Explanation
A Missouri listing agent must present all offers to the seller promptly, regardless of price, terms, or the agent's opinion of them, unless the seller has instructed otherwise in writing.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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